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not at all dandy. reports come in confirmed that hurricane sandy has hit atlantic city. that city was already underwater with the advanced warning of waves coming. leaves are eight to 12 feet. welcome, everybody. for the next three hours, we will be giving you nonstock special coverage on what is at stake on what is already a busy day in midtown, manhattan. it is about as windy and inhospitable as it has ever been in recent memory. further uptown, radio city, which is getting ready for its famed christmas show in a little more tha weeks. hang a left towards columbus circle, and you have an ongoing construction potential catastrophe developing. this is earlier today. outside a building known as 157. this is one of the grandest and most expensive buildings on the planet. i say that because when it is completed by the spring, it will be the tallest residential structure on all of god's earth. also, the priciest when all of god's earth. the penthouse of that building is $100 million. average sales for condos in that unit, and keep in mind, it is virtually all sold out, even before it was finished
residential building in new york city, when it is done it will span 90 stories. right now 65, these are $50 million apartment and up 65 stories, the wind blows through, it is now dangling out of control but at least just settled at the moment and we have emergency crews on the scene on 57th and about seventh avenue. david: go back to that shot if you can, look at that as long as possible because you don't see emergency personnel at the top, anywhere near the top of that crane. go back to the shoc shot of thee if you can because that is sort of one of the examples we can point to of the power from the storm. it has not hit with a full force yet as we have seen about the only good thing we have to report about the storm barreling toward new york city is it will not coincide with high tide. high tide is at 9:00 p.m., five hours from now, the storm will come to a couple of hours before that. about three hours before it hits, that'l that will be two hs before high tide. we might have a storm surge as much as seven to eight to 9 feet. it was as high as 12 feet coinciding with the high tide. liz:
from ocean city, maryland but right now let's take it to jeff flock in point pleasant beach new jersey. jeff? jeff: a little bit of ground zero for you, liz, at this hour south jersey really in the sights of this and for the worst of the storm. it's extraordinary in i have not covered a hurricane that has been -- the on set of which has been like this, which is just steady blowing, raining, coming at you, a sandblasting you, and no let-up. usually there's a let-up. usually there are fingers, there are ribbons of intensity that come in. this is just all blow coming straight at you. take a look at this sea foam on the beach, and i will tell you, we are not that far away from low tide. the key is going to be tonight when we get to high tide here because you see that surf behind me, the wind that has been pushing that surf begins to then cooperate with the tide at about 7:16 local time here in point pleasant beach new jersey and that begins to drive that water inland. that's what's going to do all the damage. not so much the wind. there's minor wind damage so far. it is going to be that wa
has been on the phone with us saying that he suspects the famous atlantic city boardwalk has been destroyed. it is now a memory. i do have a friend of mine that works a little ways from her. he assured me that it was very hard to tell because everything around there seems to be underwater. but that doesn't necessarily mean that the boardwalk has been destroyed. but it's hard to tell with underwater. if that is the case, certainly one of the longest and most iconic stretches of boardwalk on the jersey coast. it is at the very least severely damaged, and maybe the story. we already have indications that atlantic city boardwalk is about three times larger and a lot lighter. casinos, restaurants, establishments and the like. there is no way to ascertain is. storm surges and such, you can even see the boardwalk is destroyed. what they seem to be telling me is they cannot see the boardwalk david lee miller is with us. he is concerned that much of the service has cut off in this area. >> new york is starting to resemble a scene from a disaster movie. high-performing there is a four-story
. as the city always does. let me summarize for our spanish speakers in our audience. [speaking spanish] so the message is one more time, don't, when one unless it is a real life threatening emergency. you're just blocking the emergency vehicles from getting what they want to go. but for most of the people who stayed off the roads and particularly all of those that are out of zone a, will be ordered everyone to get out, you made the right decision. we are grateful for the corporation and we will do everything we can to get all the services that we need to everybody and to get the city back going to most of it to my hope, will come back during the day tomorrow. and we are just going stag get through this the way that we always do. thank you very much. >> that is it from the mayor, not entertaining any questions. >> not at all, but a lot of headlines to monday the biggest headline not to drive no matter where you are the new york city area. which is certainly going to be somewhat of a concern for a lot of people. we want to welcome you. you're watching fox news continuing coverage of hurrican
land? slowly but surely limited subway service here tomorrow in new york city so people get an easier commute in, yourself included. cheryl: i can't wait. ashley: i am ashley webster. melissa: melissa frances back in business. stocks trading the first time this week at the northeast begins to pick up after hurricane saying the. ashley: we have you covered. nicole petallides is at the nyse and robert gray at the nasdaq and sandra smith at the cme. nicole: new york city commuters getting much-needed good news. limited commuter rail service starts at 2:00 p.m. today. subways north of 34street begin limited service tomorrow. ashley: the dow is in the red but damage from sandy isn't done yet. the focus turns to recovery, so does its ballooning price tag. the latest, $1 billion damage estimates and keeps going up. melissa: president obama said it for the floor before the election. chris christie be just the ticket to boost president obama in the polls, we will ask lou dobbs. ashley: let's get to nicole petallides on the floor of the nyse. she is back in action. nicole: we are back
association of new york here in new york city are getting taxpayer dollars. yet we don't know if they're actually doing anything with that money. john: its new groups. not the same thing. >> the same directors, the same tax i.d. numbers, the same employee edification numbers. in many cases the same employees >> congress cuts them off and they just change names. >> i can tell you that when i were to the house oversight committee as an investigator we went to the inspector general's office, and an auditor told the committee staff when we found direct evidence of acorn housing misusing federal grant money, the auditor said, look, is $10 million. a $10 million grant. when you're dealing with that little amount of money we don't actually conducted on. as the state of affairs. john: but these are poverty workers. i assume most of them are helping people. there are a few bad apples. but so what if it's the same people. there were not all trying to help the fake punt break the law . >> these organizations are about politics, and that is white special concern if they are getting our tax dollar
shore will be devastated. we will have record high tides in new york city. the only bright spot for new york city in this area is the fact that it has not rained a lot in the hudson valley. that rain will not force even the water to back up higher. this is a devastating storm. connell: how much damage are we talking about and how many days will it take to leave? >> tomorrow at this time, things will be leading up. the storm, and said of going by, will continue to move inland. the wind stays from the south and southeast. there will be people under water for 24-36 hours. you will see the storm gradually subside over the next two-three days. we will be lying around with cloudy, cool: julie damp weather for a few days around this. this kind of storm that is spread out, you have to understand that the energy of the storm is spread out through a larger area. new england sticks east. you are funneling everything into one area. the same thing happened in ike. it is a category two and i said no, bill, this will be a major hurricane for southeast texas. i knew the storm would tighten coming to l
the boss of a big piece of the welfare state, the new york city human resources administration. the rich array employs 15,000 people who give benefits to my neighbors, food stamps, home care, job centers and someone, commissioner robert door runs the office. so welcome, commissioner. i appreciate you coming on my show. >> thank you for having me. john: i admire you for trying, but my assumption is that your -- [applause] john: you have 15,000 employees. i assume they want to help people and they direct the jobs, but teen years and their civil servants just going through the motions. you can't fire the bad ones. >> we have something called jobs data. we call our said directors of a monthly basis and ask them how they're doing getting people to work. we set a goal. 85,000 last year. we did it in there on track to do it this year. john: placements meeting. >> getting employment. john: it does not need -- >> not everybody steps up and we have people who this is -- program to assist people. we stress work and require it. john: have your 15,000 employees , can you fire bad ones? without going
the major blowout at the top of citi group? stocks are burning hot the so is a city near. vikram pandit pushed out. the street send its approval and of the shares are back into the green. vikram pandit said he was resigning but charlie gasparino says he was ousted vikram pandit has said he is facing pressure from the board. to said there was no way this was his decision? coming up we have sheila bair live praising the city grew bored but we will ask your should city group be broken up? , a test doeth pressure? the market feels no pressure at all. off to the races with good news from europe right now we're up 111 points but look at the nasdaq charging ahead s&p 500 up more than 12. we have until. and we have the cfo. caterpillar and boeing joining at the top pushing the market higher this is a broad-based rally we have traders at the new york stock exchange and chicago mercantile exchange. yes the ceo was ousted but the broad-based raleigh, what are people talking about? >> how the averages just one week ago now the nasdaq broke through with the 50 day moving average and has ralli
of them are unique but this is particularly unique because of the impact it had on new york city and the fact that it has disrupted business and will continue to disrupt it for some time given the subway system downtown essentials paralyzed and will be for some days. you have a combination of business disruption and the fact that some of the refineries have been affected on the east coast so you have the gasoline effect and price is up on gasoline and destruction and business as we put that together and it could lower fourth quarter growth as much as 1/2%. it will have an impact. it won't be horrible but it will be there. connell: it won't be positive. you see these things after a natural disaster, rebuilding, the construction industry will get a boost and that kind of thing. liz macdonald from fox business is reporting on this already. one of the things she said is it is not like -- using our money to pay for it, not like we're getting richer as a nation because of rebuilding its your taking government money giving it to a contractor or whatever the case may be. that has come up
to other chronic care facilities. some were moved to the cities seven shelters. all of these patients are safe and being cared for. there were no storm related deaths from any of the evacuated facilities. i want to thank the federal department of health and human services for sending teams to help run the special needs shelters. the shelters are intended for short-term use so we will be relocating these stations to longer-term facilities by this weekend, perhaps saturday. and -- three hospitals downtown had to be evacuated. one of the cities main hospitals had to be evacuated. that is almost completed good bellevue will now have to evacuate becauseeof damage it sustained. when they got into the basement, they realized there was more we are in the process of finding beds to move these patients now and i want to thank the greater new york hospital association for their help in the process of relocating patients. in the days ahead, we will begin consolidating the number of shelters. we have some shelters heavily populated and some that have a dozen people in them. it becomes problematic
america city especially, much of manhattan still without power, we'll cover other parts of the region as well, city's transit system still shut down and could be for days, but the thousand mile wide storm is moving west today across pennsylvania, and ohio. with winds near 50-miles an hour, it will head back to new york tate later tonight, the storm is getting weaker, forecasters warn sandy could bring heavy rain and flooding, sandy brought blizzard conditions to west virginia, and neighboring states like north carolina, with snowfall nearing 3 feet in some places, some worse damage in new jersey, sandy sent tidal rav tied waivee throughout -- wave surge throughout the night, jeff flock is joining us from point pleasant, new jersey, what are you seeing. i'm just glad to see you again. i've been worried watching you cover the storm. >> reporter: it started with you you gerri. look at this street. looking at this street, almost like a snowstorm but not going to melt, it is sand, if i dig far enough down, if i had a half hour i might not be able to dig all of the way down, some main that
: thank you very much. the president live in atlantic city, we're going live where we have remarks coming right up after a short break. liz: remember the fiscal cliff? yes, clock ticking away. the ceo with billions of assets under management tells us the effect it's having on investments now and whether the clock is allowed to hit zero, what happens? david: demand for rental propertyings, housing recovery sthoaing signs finally happening turning renters back into homeowners? on on that to come. ♪ expert on softball. and tea parties. i'll have more awkward conversations than i'm equipped for because i'm raising two girls on my own. i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. massmutual is owned by our policyholders so they matter most to us. massmutual. we'll help you get there. those little things for you, life's about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for ily use helps you be ready anytime the moment's right. y
and 70s again. dagen: left hook of the storm, the ride home untransformed hitting us in new york city. if anything, on the jersey shore, that is different than hurricane irene when we saw it. >> that is exactly right. the hurricane is pushing a hand of water up through. in the 1938 hurricane, it doesn't bring a whole heck of a lot. from the storm passed to the left, it does. 15 feet of water in providence, rhode island. imagine that. 3800 of an inch of rain. less than connecticut, all through the delaware valley, tremendous flooding going on there. the same type of thing. you see the 10 inches of rain around dc and the wind on the other side. dagen: we have breaking financial news. joe, we thank you so much biju breaking news on the stock market and getting it reopened. >> analyst speaking to fox business network. the nypd says it looks like a normal opening. that means when they say normal, that means they will have to let a testicle on the system. it will tested to confirm all this. they are saying that the testing continues, but they are saying this. arquette is running. all smooth
people and jersey central power and light. 944,000 people without electricity. atlantic city electric, 180,000 without electricity and con-edison serves manhattan and westchester county and some of the boroughs, 695,000 people without electricity. long island power authority. 909,000 without power. connecticut light and power, over 400,000 and pl and e, over 1 million, 1.2 million, in fact their vice-president of electric operations, a person by the name of john, said the previous record for outage was 200,000 by hurricane irene 2011 quote the largest storm related outage in our history and again, 1.2 million, pl and without electricity at this hour and we're going to keep following this for you, they had 25,000 power crews on stand by that they brought in according to pepco, the utility in washington d.c. and 25,000 men and women additional force flown in from mexico, canada, and washington state poise today dispatch the crews. charles: it's a herculean effort or a herculean task. a lot of people without power, thanks, adam. >> you've got it. charles: joining us a spokeman for con-ed
. around battery park, rather ominous there. >> new york city. he met did i tell you that you are an evacuee? >> we wear it with pride. >> political status? >> i don't know. now, listen, one of the lucky ones. a place to go. there are shelters in the area of zone a. we have blackouts in 1977, but we've never had a blackout and flooding. >> you can see a cruiser right there, presumably locking down the street. parts of lower manhattan have serious flooding, as well as the subway systems there. tony fernandez has been out there all evening. can you paint a better picture breast? >> a lot of starbucks cups, no surprise, here there are larger wooden items that made its way throughout the course of wherever that water is originating from. the hudson river, where ever else it went through over the evening. it brought a lot of large agree with that as well. a testament to the power of the water when it was here. you guys really hit it on the head. it is very eerie out here. not the kind of way that we see new york city. there were some people coming around. but for the most part, it
to make landfall at any moment. maybe as soon as to the 30 minutes near atlantic city new jersey. now, so far the storm has left 850,000 people, a million people without power tonight. possibly as many as a million according to some reports. the number is him of course in a rapidly growing. the hurricane will continue to sign the east coast with strong force tonight and into tomorrow. new jersey, delaware, pennsylvania, parses a maryland in storms direct path. in new york city the strong wind gusts has caused a construction crane to collapse at a luxury high-rise building in midtown manhattan where it is now hanging on by a thread. no injuries had been reported, and residents have been evacuated. bridges, tunnels, trains also shut down in the manhattan area. the hurricane combined with a nor'easter is expected to stretch into the great lakes with up to 3 feet of snow forecast in the mountains. the appellation reason especially west virginia. airlines have canceled dozens of flights in the northeast, and air travel could be halted for days, if not a week. boston is the latest major city to
after city's earnings beat expectations at a conference call where not a word said about this. what a surprise. melissa: not too hot and not too cold. is the pressure on president obama to deliver just right at the presidential debate? neil cavuto joins us live in minutes and later who will win? melissa: lori: the u.s. handing out financial assistance. a a shocking new report on the government's wasteful spending. melissa: those rub us a wrong way but it is time to check stocks. let's go to the stock exchange. nicole petallides standing by and marketing rally mode. city one of the big movers of the day. nicole: from earnings to the economy and vikram pandit, quick resignation, many say he was right out of citigroup by the board and chief operating officer went along with it. major market average, the dow is up 118 points, that is a gain of 0.9%. and the nasdaq is up 1% up 32 points. tech is doing well. we are seeing gains across the board and we continue to follow citigroup closely. we came in and we hear that vikram pandit is no longer a basile effective immediately. this socked wa
. it is a key battleground state. fox business is choosing great american cities like cleveland and our open for business series to talk about no matter what the economic atmosphere, companies are making it happen. cleveland was a stop in my career. back in the early 90s. i covered everything. it was a big story, marsh fires. i was at hurricane andrew. i know, the hair, please. and that outfit. category five hurricane. i got to cover all the biggest stories. i knew cleveland was a great city for business. keep in mind, ohio, a key battleground state. you saw how many times ohio was mentioned last night. already, we have spoken to the brand new billionaire owner of the cleveland brown's. he is from knoxville, tennessee. telling me this is it. he will make the browns a winning team. mark shapiro, the president of the cleveland indians. his team is facing, yes i know, major league. it goes back many centuries. many decades. this is one of the original american league teams. i asked him who will get the manager spot. of course, there is a position open. we are live at the rock 'n roll hall of fa
, and it is problematic. a spokesperson saying that the city is experiencing high volume. some people are being told to wait. people should be calling with real emergencies. a genuine emergency, lower manhattan, virtually cut off for electricity to this entire region red getting a good view, a view of the freedom tower. working under its own illumination. it is lower manhattan. as you can see, very few were working in lower manhattan. in and out of the area, by the way, continuing to be shut down tomorrow. of manhattan a ghost town. of course september 11, the world trade center. all in that neck of the woods. this is also home of the new york stock exchange. that organization, seo o'leary leibowitz on the fun of me right now. as expecting, trading will not happen tomorrow. a lot of folks now bidding concern for wednesday with all the company flooding and whether even if you wanted trade technically you will be able to trade. what. neil? >> well, look. weeare making every effort to make sure that we can trade on wednesday. lots of plants. we are working through everything we can. our every intention
considering? >> of course it's worth considering because the deal might not be there. look cities are spending 41% of their revenue coming from the state. they're not balancing their budget. the federal government has 40% of theirudg they're borrowing from other countries. once you haveny type of austerity measures in place you'll feel it at the local level. take the money now because it may not be there later. to the state's point of view you eitheray them now or pay through unemployment so it's a win-win for the states. >> christian, you can't deny our pension funds are broke. so get the people out while you can. maybe you don't have to pay them. >> it's one too. it may be useful in a lot of ciumstances but again, i would like to remind everybody government employees prove valuable public services. it's not just a matter of items on a balance sheet. >> you're talking -- >> you want to make sure -- if i can finish that you provide services in the most efficient way for taxpayers. if you end up buying out --
the way to maine without power. the superstore slamming into new york city, flooding in some ways and tunnels with record -- a record surge of seawater that breached the city's downtown electrical system, including that supporting wall street. the new york stock exchange and the markets closed for a second straight day with much of the city still paralyzed at this moment. the eastern seaboard literally littered with homes watched from their foundations, streets filled to the rooftops with cars filled with water. in one case, a blazing inferno in queens, new york, a blaze that destroyed more than 80 homes in one community. fema officials say, sandy is not anywhere near being over either end as of right now this storm is moving inland, and dumping more than a foot of snow in west virginia, today at 3 feet predicted in some regions. what is left of hurricanes and the remains powerful, and tonight it threatens the midwest. officials in chicago warning people to keep their distance from lake michigan where high winds are expected to create waves reaching as much as 24 feet in height. m
always been steady. it is a tale of two cities. this stock should continue to fall the market and its self, a solid company, they will continue to grow and continue to be profitable and continued to go up. ibm will sell off a little bit. if the fundamentals are great. david: put that back on the screen, we can see it popped a little bit above the end of the day trade but right now trading a little bit below, the expectations were so high, they tried to lower them a little bit, but not enough, traders are not thrilled. the board of directors of citigroup elected ceo after the ousting. so what does a shakeup mean for the bank? liz: joining us now, jim rogers, private investor of a gift. this announcement is very heavy. the guy under him out. would you buy the stock here? >> not with my money or your money. i wonder how he got the job in the first place. here is a guy who failed as a hedge fund manager, all of a sudden sold citibank. david: you are wrong. he succeeded as a hedge fund because he sold his hedge fund for $800 million to citi. >> you are exactly right. the hedge fund with a
there and for the most rabid areas with chris christie, new jersey's governor and here is what. atlantic city is under water. you can see not only is the boardwalk, the famed boardwalk of atlantic city completely ruined but block after block after block hundreds and hundreds, and the first floor completely flooded. i am liz claman. count down to the closing bell begins right now and there is no closing bell because the new york stock exchange and the nymex and the nasdaq castillo's. the east coast trying to come back from the damage of hurricanes and the. every corner covered for you. when all is said and done it might be atlantic city that suffers the most. atlantic city underwater as presidents flooded out and that historic boardwalk which is a huge tourism focus under water in shambles. check this out. video from yesterday of the crane in midtown manhattan collapsing, simply folding like a matchstick. that happened at 3:00 p.m. monday. the crane is part of construction on a luxury condo building said to be the tallest condo skyscraper in manhattan when it is finished. 90 floors, still evacuated at
the deal might not be there. look, cities are spending 41% of their revenue coming from the state. they're not balancing their budget. the federal government has 40% of their budget they're borrowing from other countries. once you haveny tpe of austerity measures in place, you'll feel it at the local level. take the money now because it may not be there later. to the state's point of view, you either pay them now or pay through unemployment. so it's a win-win for the states. >> chrisan, you can't deny our pension funds are broke. so get the people out while you can. maybe you don't have to pay them. >> it's one too. it may be useful in a lot of circumstances but again, i would like to remind everybody government employees provide valuable public services. it's not just aatter of items on a bance sheet. >> you're talking -- >> you want to make sure -- if i can finish, that you provide services in the most efficient way for taxpayers. if you end up buying out -- >> let him -- >> providing that benefit, then that's a problem. >> jonathan. >> nothing eficient about government spending, espe
of the facts. >>> thanks but no thanks. new york city mayor bloomberg tells president obama, not to visit the big apple after the storm. i say thank goodness. but one of my guests says bloomberg is way out of bounds. he is here to disagree with me. even when they say it's not, it is always about money. melissa: first after a two-day hiatus, let's look at market headlines. wall street swung back into gear on the first day of trading since superstorm sandy. stocks were choppy throughout the session. they closed mixed throughout the day. dow closed down 10 points. home depot closed higher on the dow. expected demand of home and construction supplies sent shares up 2%. that makes sense. facebook shares tumbled 4%. a lockup expired on 229 million shares today. another 804 million shares will become unlocked on november 14th. >>> lots of damage to assess. the president just spoke after touring new jersey with governor chris christie today. while super storm sandy continues on its path of destruction the area northeast of pittsburgh is the latest to get hit. leaving close to million pennsylvania
of power. we're live on the ground with the very latest. liz: this is ocean city, maryland. obviously the water is still pretty rough out there. we have 15,000 flights that have been cancelled. it's actually closer to 16,000. this is a result of the storm. jetblue chief operating officer joining us with an update live and a look at just how costly this might be to the industry and to his company. david: no airline has more flights coming in and out of manhattan. and with homes destroyed across the east coast, a storm could have a huge impact on the housing market. could the rebuild actually help keep this housing recovery going a little? we will be talking to carl case, coauthor of the case shiller index. let's get right to the heart of the action as we continue to survey the field here and again this is a a historic storm. it is historic for many reasons. particularly the damage it's done. let's go to jeff flock. he's in point pleasant beach new jersey -- new jersey. i'm wondering if the homeowners are coming back to their houses now and trying to assess the damage. jeff: just talked
, and destruction caused by hurricane sandy. you are looking at is the small new york city community of breezy point, queens, home after home, burned to the ground. more than 100 houses reduced to ash, breezy point, one of many east coast communities devastated. by the superstorm. at least 62 storm-related deaths have been reported since sandy made landfall in southern enginemenmentnewjersey. 71 pearished in the caribbean. and national largest city is still struggling to begin to recover. large swaths of downtown manhattan are still underwater. and battery tunnel is filled with water. there are no estimates on when it will be pumped dry. across the hudson, in hoboken, national guard there, working to evacuate 20,000 rez dent 20 rese been without power for two days, and streets emerged. and destruction along jersey shore, agonizing to rehold. the resort town, off limits tonight even residents cannot enter, hurricane blowing many of the million-dollar homes off their foundations. and broken gas lines. adding more obstacles to what will be a long-running recovery, 6 million people still in the dark acr
♪ liz: you have developed the rain here in cleveland. this great american city that is open for business. good afternoon everybody. this is countdown to the closing valve. we are right on the waterfront in cleveland for day to. big news today. the jobs report for the month of september. the economy added about 114,000 jobs for the month. unexpectedly bringing the unemployment rate down to 7.8%. the best we have seen in several years. frankly, what better place to be had here in the buckeye state. number four nationwide in an employment rate. business is booming in cleveland. we have even more of the cities top names in business for you. we have been here all day. only one thing president obama and mitt romney agreed on at the debate is that the cleveland clinic is doing healthcare right. coming up this hour, we are speaking to a doctor at the cleveland clinic about his prime time shot up and more importantly what about what mitt romney has said about getting rid of the healthcare brand in the healthcare law that the president has pushed forward. he has some interesting point
is open for business. liz claman in the heart of the city. what makes their city the place to be? liz: you should be here. this is a rock and roll hall of fame at huge tourist attraction. look what i got you. and he was two years old. and this was the best. and kevin magee founded in the gift shop. and jimmy hendrix which you saw him singing the national anthem. and we can hear all day long, the business of ohio and cleveland, and come from this town that hired more than a thousand people and the horse shoe casino and the big constitution, bring the business to cleveland and the general manager and how well this business does and is doing well means how much more they will lead to their job rolls in ohio. and that is when governor john k kasic became governor. this was 48 in the nation and ohio is fourth in the nation. a fox business exclusive. dave: one small correction, jimi hendrix did not sing the star spangled banner. and get down to business, pushing higher without three major indices. and ended in positive territory boosting the s&p 2 with 4 straight day of gains. and factory orders
? >> absolutely, most of these cities are cash strapped. they're financially mismanaged and it's an opportunity for them to put one more hand in the taxpayers' pockets. look, the root of this is not that they ned more money, they need to spend what they have more efficiently and overburdened with pensions they can't pay and they have too many government employees on the payroll and they're badly run, and asking a taxpayer to fund government inefficiency is the wrong way to go. >> brenda: well, jonas, we're already paying taxes, isn't that supposed to be covering what we get for this? >> well, those income taxes are artificially low. a lot of states like california are putting through a lot of tax increases. and we talked about the president, but california has a proposition to super tax million dollar earners, you need regress seive taxes to go along with that, and charging fees for all the things the states are paying for, roads, bridges, i'm all for it because you can't just squeeze the same group for higher income taxes, and called broaden the base. >> brenda: you like that idea. >> i late t
into city nascar, huge traffic jams, 6 avenue, trips that normally took 20 minutes took up on 3 hours, cell phone, and land line service not fully restored. there were problems at new york stock exchange. which was finally up and running. at least 61 people now confirmed dead, and about 6.5 million homes and businesses still without power, 4 million of which are in new york, and new jersey. and it seems reminisce en of hurricane katrina look at this nypd used helicopters that is to pluck people from rooftops in some new york city neighborhood, new york governor cuomo said limited come outer rai outer ral service has resumed. some commuter trains are still without power, some trashes washed away. the water making the important decision, amtrak service on north east corridor is mostly suspected. stranded air travelers get something relief, two of new york city's three major airports are open, njk and newark liberty, laguardia we heard, will hope tomorrow morning. african selling 20,000 flights since sunday, -- after counselling 20,000 flights since sunday, limit service are up again. the clea
around more of the city before we grab you here. how is the situation after the storm last night? >> doing remarkably well dues to the city prepared this and the state preparedness. they have done a great job building the infrastructure in order to withstand that tremendous storm we had last night. a historical storm. robert: you have been around a lot of these storms. how does this compare with the larger stores? >> the biggest one i have seen. i am new to this area. i don't think anyone has seen water lapping into battery park like a was last night and i had a chance to observe that last night at 10:00. we were trying to figure out where the water was going and that is part of the function here to help the city and the state with technical expertise how to get the water out of the subway stations and conduits. we are ready to help the city and glad to be part of the team that is really strong at doing what needs to be done for this situation. robert: the largest in at least 50 years as they have been keeping records. we know the restaurants here beside us, creating some damage
. chairman, this is a city where the ideas of milton friedman continued to get a lot of attention. one of our questions via twitter is how you think he may have viewed the federal reserve evolving role over the last five years. >> i think -- i am a very big fan of belden friedman. i was a colleague of his. i had many opportunities to speak with him. i spoke at his 90th birthday party. he was a terrific economist. very insightful. i think he would support what we are doing. one of the things that made his reputation was his work with anna schwartz about the great depression. they pointed to two basic problems. they pointed to the deflation, the overly tight monetary policy and they pointed to the collapse of the banking system. we took that very much to heart. we were aggressive early on. we did not allow the fact that interest rates were very low to pull us that monetary policy was just accommodated as it needed to be and we were aggressive, as you know, and trying to prevent the clots of our banking system. in addition, he very much supported providing enough liquidity to the economy so that
are joined by the police commissioner of the new york city police department. ray kelly. known to us a note to me especially. are you there, commissioner? >> i am. good morning. >> what happened, how is the police department hoping? >> this is a particularly devastating storm. no question about it. it is significant for power outages in manhattan. the area south of 34th street. obviously, queens and brooklyn, the last count was almost 500,000 people without power. that is a huge number. so there is a lot of damage and a lot of flooding. just as the expert said, the surge would be the thing that is of greatest concern. and that is exactly what it was. >> any reports some people -- well, we have reports of people trapped in some of the evacuation zones. evacuation's of these. question. many people have you heard a trapped in their homes? >> well, you know, there are hundreds of calls, not regarding , very much trying to get to people in that situation. what happens, the water comes in the water came in quickly and people are trying to get out of the situation. firefighters are attempting to g
case scenario tat you can see for a place like new york city. the center of the storm goes o the center of this line right now, that putsall of jersey, the long island sound, and all of long island in the bat area of the storm. it also, with the way that shape is of the land, it funnels all the water into there and it cannot escape. we will be talking about a very significant one -- storm surge. models trimming them with just a little bit, but his is where the biggest storm surges, and it is a really long lasting storms. we will see some hurricane force winds monday and tuesday, about two days. rain that goes on for about 2-3 days. we will see some many people without power because it is not really going to be a hurricane when it makes landfall. we will be more like a nor'easter, but i nor'easter we have never seen before. so a lot of trees still have the leaves on. coinciding with the full moon which means your tides will be higher. all the storm surge. everything here will be seeing a lot of rain and wind. we might see 10 million plus people without power. those kinds of numbers. take
across the country. what is being done to make sure your city can let your money. unfair practices. these fellas used capital one venture miles for a golf getaway. double miles you can actually use... but mr. single miles can't join his friends because he's getting hit with blackouts. shame on you. now he's stuck in a miniature nightmare. oh, thank you. but, with e capital one venture card... you can fly any airline, any flight, any time. double miles you can actually use. what's in your wallet? alec jr? it was a gift. we don't let frequent heartburn come between us and what we love. so if you're one of em people who gets heartburn and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours. zero heartbur gerri: the recipe for job growth that might surprise you. many employers are cutting back. restaurants across the country are heading toward their strong this year and hiring in nine years. to give you a taste, americans stepped out to eat a whopping 61 billion times, and the industry i
earnings this friday will wells fargo, citi, jpmorgan, bank of america will report at beginning of next week. sandra: what can investors expect and what names should you get into now? we have brad hintz, former lehman brothers ceo or cfo. the reason i didn't want to most that up to put emphasis on it you are inside this industry. you know it very well. and here we're looking at bank earnings. what are you expecting especially friday when we kick things off for the financials? >> in terms of the quarter, right, we're going to have much better fixed income. that is really qe3, right? once the europeans kick their can way down the road then the fed said we're going to buy bonds. you have the yield curve that flattened. the fixed income side looks very, very good. retail investors are lining up to buy bonds. that may not be a prudent decision but they're lining up to buy bonds. sandra: good for the banks. >> so for the fixed income divisions which go through a slowdown in the summer they will be modestly up. that will be story. debt capital markets will be good. debt underwriting. fixed inc
to make sure your city can let your money. unfair ractic. for many, nexium helps relieve heartburn symptoms caused by acid reflux disease. osteoporosis-related boneractures and low magnesium levels have been seen with nexium. possible side effects include headache, diarrhea, and abdominal pain. other serious stomach conditions may still exist. talk to your doctor about nexium. gerri: the recipe for job growth that might surprise you. many employers are cutting back. restaurants across the country are heading toward their strong this year and hiring in nine years. to give you a taste, americans stepped out to eat a whopping 61 billion times, and the industry is set to recover $600 billion in sales. phar-mor, ct -- cocke restaurants joining me now. great to see you. what is going on here? >> good to see you. thanks. gerri: i thought that consumers are, you know, not in a great mood, not spending money. they are spending money on eating out. why? >> a couple of things. in a recession you may not buy a new shirt or a new dress or put off buying the new car, but you're not going to put
forward. so switch to regions. and let's get going. together. neil: cities and states are struggling and union pension costs keep rising. jim demint is trying to stop government from bailing out those plans if they go bust. the struggling economy will be a big focus tomorrow night. and that is the arizona mayor. ahead of the big debate. pushing for bipartisan solutions. mayor, it's very good to have you. both sides talking and moving the ball forward. what kind of progress are you making? >> well, we make a lot of progress, on the mayor side. we talk as mayors and not as democrats or republicans. it is funny, you come up with solutions and come up with ways to work together. it's a novel approach. neil: what is the ratio these days that you are finding agreement on that when washington they just can't come to the agreement of spending versus revenue or even what kind of spending and what kind of revenue. how are our uber perceiving or would he recommend and? >> in the cities we don't have the luxury of taking things down the road. we have to balance the their budgets. which means tha
. and pandit led the bank through the financial crisis and even testified on capitol hill and look at citi shares in pre-market right now. they are going to be down and by the way, the number two man, chief operating officer stepped down and we're following the story and the stock throughout the program. to the big story, more than a month after the attack in libya killed the ambassador and three others, the administration is struggling to deal with the fallout and subjects say hillary clinton is taking responsibility for not providing more security there as reportedly had been requested. >> i'm responsible for the state department for the more than 60,000 people around the world. the decisions about security assets are made by security professionals. but we're going to review everything to make sure that we're doing what needs to be done, in an increasingly risky environment around the world. stuart: but she did not accept blame for the confusion surrounding the cause of the attack. it was initially connect today a movie, but we now know it was a pre-planned terror attack and even two wee
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